FOREX ANALYSIS: British Pound Sentiment Warns of Continued Weakness

ssi_gbp-usd_body_Picture_8.png, FOREX ANALYSIS: British Pound Sentiment Warns of Continued Weakness

GBPUSD – Retail FX traders have continued to scale back their British Pound short positions against the US Dollar (ticker: USDOLLAR), and the noteworthy shift in sentiment warns that the pair may have seen an important failure at $1.63. Since last week, total short interest has fallen 11 percent while longs are up 20 percent.

We see further risk of GBPUSD declines as crowds buy into weakness.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4151+0.0025+0.18%
    USDSGD=X
    1.5969-0.0009-0.06%
    EURSGD=X
    2.1637+0.0015+0.07%
    GBPSGD=X
    84.6326+0.1071+0.13%
    SGDJPY=X
    5.4765-0.0096-0.18%
    SGDHKD=X
    2.9767+0.0079+0.27%
    SGDMYR=X
    9,994.6299+54.7637+0.55%
    SGDIDR=X
    4.4918-0.0149-0.33%
    SGDCNY=X
    0.9913+0.0003+0.03%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,141.00+1.20+0.11%
    GCZ15.CMX
    14.58-0.04-0.27%
    SIZ15.CMX
    46.81-1.62-3.34%
    ^XAU
    2.300.00+0.02%
    HGZ15.CMX
    44.52-0.89-1.96%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.50-0.04
    ^FVX
    2.17-0.03
    ^TNX
    2.930.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.133+0.005+3.91%
    5DN.SI
    0.310.00-1.59%
    5WA.SI
    0.535+0.015+2.88%
    N21.SI
    0.72+0.02+2.86%
    5ME.SI
    0.735-0.010-1.34%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.235+0.037+18.69%
    C10.SI
    0.128+0.018+16.36%
    T77.SI
    0.485+0.055+12.79%
    MN5.SI
    0.335+0.035+11.67%
    5VI.SI
    0.255+0.025+10.87%
    L38.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.105-0.033-23.91%
    5DL.SI
    0.49-0.14-22.22%
    AXZ.SI
    0.17-0.03-15.00%
    5G1.SI
    0.094-0.016-14.55%
    F10.SI
    0.14-0.02-12.50%
    T19.SI